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Public Service Enterprise (PEG) Q1 Earnings Misses, Sales Top

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Newark, NJ-based Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.

Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.

The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.

Estimate Trend & Surprise History

Investors should note that the first quarter Zacks Consensus Estimate for earnings of 98 cents per share has remained stable over the last 7 days.

Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 4.43%.

Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank #3 (Hold) but that could change following its first quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Public Service Enterprise missed earnings estimate by a penny. Operating earnings per share came in at 97 cents, compared with the Zacks Consensus Estimate of 98 cents.

Revenue: Revenues of $2,818 million surpassed the Zacks Consensus Estimate of $2,740 million.

Key Stats: During the reported quarter, Electric sales volume inched up 0.1% year over year to 9,904 million kilowatt-hours, while Gas sales volume dropped 0.9% to 1,430 million therms.

Guidance: The company reaffirmed its 2018 earnings guidance in the range of $3.00 –$3.20 per share.

Stock Price: It would be interesting to see how the market reacts to the fourth quarter earnings beat during the trading session today.

Check back later for our full write up on this PEG earnings report later!

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